LeanLaw is an app that integrates with QuickBooks Online and is a legal and professional services timekeeping/billing/ trust accounting/reporting app with real-time, 2-way sync to QuickBooks Online. We asked them 8 questions, as a part of our “What Is” article series, to learn more about their app and their company.
What is LeanLaw, what do you do, & when did you get published on Intuit’s Apps.com?
LeanLaw has been in the app store since the first quarter of 2015, although we officially launched in the 1st quarter of 2016. We are a legal and professional services timekeeping/billing/ trust accounting/reporting app with real-time, 2-way sync to QuickBooks Online. We are the top-rated legal app in the QuickBooks app store.
LeanLaw makes QuickBooks Online work for law firms. Here’s why:
- We rock at tracking time – online, on the go, from your favorite device.
- Fully compliant legal trust accounting in QuickBooks Online.
- Two-way (LeanLaw & QuickBooks Online) expense management.
- Real-time legal reporting, including revenue by attorney, origination, timekeeper reports.
- Fully supported contingency management and settlement.
- Solving the financial equation: By including the QBO Pro Adviser as a stakeholder in the process, LeanLaw transforms the workflow into less manual work and more features that support and integrate with core QBO functionality.
- Legal specific features including multiple user rates by client/matter, LEDES invoicing, Time Tracking flexibility with an hourly, flat fee, and contingency matters.
- Real-time integration allows legal stakeholders with direct visibility to critical financial data such as trust balances, expenses/costs, AR, and earned income.
What was the main problem you were trying to solve when you first developed your app?
LeanLaw wanted to break the mold of practice management legal tools that did a lot of things, but none of them well. We also wanted to solve the accounting pain points of how legal applications integrated with QuickBooks Online.
The end result was a highly efficient, invoicing-focused financial platform with real-time data that allows law firms and their accounting pros to understand the operation of the law firm with constantly fresh data. That’s why LeanLaw is the top-rated app in the QuickBooks app store.
What companies (or users) are the best fit for LeanLaw?
Small law firms, from solos to 30 attorneys are an ideal fit with LeanLaw.
All of our clients appreciate the visibility of real-time financial data. For smaller firms and more hands-on users, LeanLaw offers a seamless connection to QuickBooks Online, extending its functionality.
Tell us about your users’ top 3 favorite features or benefits.
1. Trust Accounting
LeanLaw’s deep integration with QuickBooks Online means that your law firm’s legal billing software and QuickBooks Online are no longer out of balance. You don’t have to sync because LeanLaw syncs automatically in real-time.
Even better – IOLTA accounting is built into the invoicing workflow. You can make legal Trust deposits and pay invoices from Trust using LeanLaw. What used to be a daunting 12-step trust accounting process in QuickBooks Online is now one click.
LeanLaw ties the productivity of your law firm to its financial data in real-time. Since there is only one set of data — from QuickBooks Online — your reports are totally accurate. You can instantly see how much you have billed or collected, what your client’s trust balance is, attorney compensation reports, timekeeper activity and more.
LeanLaw adds a draft bill to the process of invoicing. Attorneys commonly have other folks create their invoices. They then want to review them and make changes. The process can be drawn out for several weeks. In QBO, you make an invoice and it counts as revenue, whether it’s sent to the client or not. Alternatively, in LeanLaw, you can draft an invoice, review it, and when ready, send it from QBO.
The invoice format in QBO, the custom form template, isn’t ideal for attorneys. It lacks key features. LeanLaw overcomes this by automating the matter name or ID to the invoice using a custom field. LeanLaw groups items (legal services, expenses, non-billable time) together so that the invoice is easier to read. We allow the law firm to add username/initials to time entries. And, LeanLaw adds a trust statement balance to the memo field of the invoice. The end result is a more professional and legal minded invoice.
LeanLaw pulls real-time data from QuickBooks Online and lets the attorney work in a user-friendly interface. Accounting professionals can stay within QuickBooks – since both programs are in sync, each player can work within the interface that best serves her.
Tell us about your company’s culture and leadership.
LeanLaw aims to be helpful, create community, and empower our team. We thrive on helping our clients evolve in how they manage their invoicing and reporting. This is supported by a customer-first mindset where the leaders of the organization are continuously interacting with the clients. We also value our client’s input to the product. Our clients are not just lawyers, but the accounting community that supports them. QuickBooks ProAdvisors are a crucial element to the success of LeanLaw.
How is LeanLaw different from your competitors?
LeanLaw has the most elegant sync with QuickBooks Online of all its competitors. There is no sync button because you are always in sync. We are a timekeeping/billing/ reporting software — NOT practice management. That said, there are attorneys who use practice management software, even software that syncs with QBO, who add LeanLaw into the mix.
What is the pricing?
- $28/User Per/Month Billed Annually
- $35 / User Per Month, if Month to Month
Does your App have any programs for Quickbooks ProAdvisors?
The LeanLaw Accounting Pro program was created out of our law firm clients’ need to connect with accounting experts. These lawyers understand that accountants and bookkeepers who are proficient with LeanLaw software can make dramatic changes in the efficiency and profitability of their law firms.
LeanLaw Accounting Pros (LAPs) are also experts in QuickBooks Online. To these experts, we provide a free account, discounts for their clients, Tier-2 support, education, community, and law firm referrals.